Update on Evelyn ScarletEvelyn Scarlet is a single mother of two young children and lives in the Chinandega area in the western part of Nicaragua. She runs small businesses out of her home, selling general supplies, soft drinks and snacks and offering video-game services. She makes her purchases at wholesale markets or outside of the country, and her sales are on cash and credit, while the video-game service is with cash down. She has regular and occasional customers. Evelyn starts working very early, providing excellent services to her customers. She is known as a woman with big dreams to move up in life and make headway for her children. Some of her dreams are to see her children become professionals and to finish construction of her home so she can give them a dignified place to live. She plans to use the loan to purchase two Xbox 360s as well as televisions and to stock up on general supplies for her store. Evelyn is very grateful for the support Kiva investors provide to people with limited resources.
Previous Loan DetailsEvelyn Scarlet is an entrepreneur whose business, which is located in her home, is offering video game services. She is a client of Fundación León, which has offered her financing for her business. She has expressed to us that this has helped her a lot since she has increased the number of game... More from Evelyn Scarlet's previous loan »
Fundación Leon 2000This loan is administered by Fundación Leon 2000. Fundación Leon 2000 began operations in 1993 as the first microfinance institution to serve the western part of Nicaragua, a country which continues to be one of the poorest in the western hemisphere. Fundación Leon 2000 works to further the development of micro, small, and medium enterprises through credit services and management, applying the best credit industry practices and technical expertise. Additionally, Fundación Leon manages several business and financial education programs in the community, specifically for young entrepreneurs and at-risk youth. Fundación Leon 2000’s group of experienced and dedicated employees works in 7 offices in Leon, Chinandega, Chichigalpa, Somotillo, Jinotepe, El Sauce, and Nagarote and serves several thousand clients (the majority of whom are women).
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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